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GBPJPY trade ideas

Pound-yen consolidates above ¥187The latest British job report on 15 April was generally quite positive with growth in earnings remaining high and claimants increasing less than expected. The focus for the yen remains on upcoming trade talks between Japan and the USA while monetary policy still seems somewhat uncertain. The Bank of Japan is likely to continue with ‘wait and see’ although some participants expect a hike in September. ¥186 seems to be the main short-term support based on the fairly strong reaction on 9 April. However, that hasn’t been clearly sustained since then although that day’s upward engulfing candlestick would have suggested possible ongoing gains. Japanese balance of trade late on 16 April GMT is unlikely to have a significant influence on the chart unless it’s particularly surprising. The 20 and 50 SMAs just below ¥191 probably mean resistance in that area. Upcoming British data like PMIs and retail sales could usher in a clearer direction. This is my personal opinion, not the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
Golden Pattern Alert! Inverse Head & Shoulders Spotted on GBP/JPHi traders! Analyzing GBP/JPY on the 1H timeframe, price is showing signs of a potential bullish reversal with the formation of an Inverse Head and Shoulders pattern: 🔹 Entry: 189.25 🔹 Take Profit (TP): 190.85 🔹 Stop Loss (SL): 188.25 After a strong downtrend, price formed an inverse H&S pattern with the right shoulder completing near the ascending trendline support. A breakout above the neckline around the 189.20 level confirms bullish intent, with momentum supported by a close above both the neckline and the 200 EMA. RSI is also turning up, showing strengthening bullish momentum. The breakout candle is clean, with volume picking up slightly adding confidence to the setup. If the pattern plays out fully, the projected target aligns with the upper boundary of the ascending channel around 190.85, which also acts as a confluence zone from previous structure. ⚠️ DISCLAIMER: This is not financial advice. Every trader is responsible for managing their own risk and strategy.
Long
by FXOnTop
GBP/JPY - Long Term SellHere in this chart starting in the higher TF we can notice lots of selling pressure. Every time price hit this key level we can notice a significant sell off. From previous new in the past few weeks we can notice a strong Supply zone to look to sell from. This supply zone has a clean Mitigation Block within it. If we sell this Supply zone it will be a strong possibility that we break out of this parallel channel giving us a break out. Dropping down into the 6H we can notice a first target being the sell side liquidity. Im targeting here as the demand zone has been invalidated from this previous price movement giving me good conditions to sell into Please do feel free to follow me or dm me about this read
Short
by jamesibartram
GBP/JPY Trade SetupTechnical Breakdown (4H chart): Price action is currently consolidating between two key zones following a strong bullish move. We're now watching for a breakout from this wedge pattern. 🔴 Downtrend line acting as resistance. 🟢 Uptrend line forming a rising wedge. 🔵 Key Levels: Buys Above: 187.346 – Bullish breakout potential if price breaks above this resistance with strong volume. Sells Below: 186.106 – Bearish continuation likely if price closes below this support zone. Trade Idea: Buy Scenario: If price breaks and holds above 187.346, I'm looking for long opportunities targeting the 189.50 region in line with the green ascending trendline. Sell Scenario: If price rejects the resistance and breaks below 186.106, I’ll look for short setups toward 184.78 or lower.
by PipShiesty
GBPJPY Channel Down bottom reached. Rebound expected.Last time we looked into the GBPJPY pair (March 20, see chart below) we had a sell signal which dully delivered our 188.550 Target: This time we have the price at the bottom (Lower Lows trend-line) of the extended Channel Down, with the 1D RSI almost reaching the 30.00 oversold limit. All such bottoms were followed by a rebound that hit at least the 1D MA50 (blue trend-line) before a new Channel Down Lower Low. As a result, we are going for a short-term buy here, targeting a potential contact with the 1D MA50 at 190.250. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot